Carbon Leakage: A barely perceptible process

Germany pursues ambitious energy and climate policy objectives and is thus a trailblazer in these fields internationally. However, the faltering UN climate protection process shows that other countries are not following Germany's lead or are moving at a slower pace.

In Germany, a barely perceptible process of de-industrialisation has already begun in energy-intensive sectors. CO2 emissions are shifting from Germany to other countries.

In order to stop the barely perceptible process of de-industrialisation and carbon leakage, Germany should either join forces with Europe to achieve faster progress and more stringent targets in international climate protection or else curb its own pace. At the very least, Germany has to seek to make its Energiewende more efficient. Moreover, energy-intensive companies are going to require exemption regimes in the future, too.

An interview with Sabine Miltner, Group Sustainability Officer of Deutsche Bank. What do the findings of the leading international body for the assessment of climate change (IPCC) mean for Deutsche Bank's clients, the financial sector as a whole and our global society?

Deutsche Bank wants to minimize its negative impact on the environment as much as possible and has operated on a climate neutral basis since 2013. We are also reducing consumption of resources such as water or paper continuously.
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